Results 1 to 2 of 2
  1. #1
    The Buzz's Avatar
    The Buzz is online now GPWA Gossip Hound
    Join Date
    February 2007
    Newton, MA
    Thanked 1,632 Times in 990 Posts

    Default Former 888 cofounder heirs sell half of company shares

    According to a report on Globes, an Israeli business news outlet, the family of the late Aharon Shaked, one of the founders of 888 Holding, has sold a large proportion of their chips for cash, one year after the family of Ben-Yitzhak did the same thing.

    The two sales are related . . . Two families founded 888: Shay and Ron Ben-Yitzhak, who brought the technological expertise; and brothers Avi and Aharon Shaked, who had deep pockets and business experience. As a result, the Ben-Yitzhak family had a 23% stake at the time of the IPO, and the Shaked family owned 34% of the capital. During the almost 12 years since then, the Ben-Yitzhak family sold its shares in stages, virtually liquidating its holdings in the company a year ago. The family thereby accumulated NIS 1 billion, including gross pre-tax dividends. Aharon Shaked died in early 2010, leaving his assets to his widow, Haya, and his two children: his son, Ohad, and his daughter, Tal.

    In contrast to the Ben-Yitzhak family, the Shaked family did not sell a single 888 share, until last week, when the heirs sold 40 million shares at 2.70 a share, garnering 108 million ($140 million, NIS 500 million). The Shaked family thereby sold half of its holdings in 888, leaving it with a 12.9% stake. The Avi Shaked branch of the family owns 24.1%.
    Read more here:

  2. #2
    stillshadow's Avatar
    stillshadow is offline Private Member
    Join Date
    December 2016
    World -1
    Thanked 30 Times in 19 Posts


    Lots of smoke at 888 these days...

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts